News & Analysis as of

Standing Chapter 11 Commercial Bankruptcy

Jones Day

The Year in Bankruptcy: 2024

Jones Day on

The first full year of the post-COVID-pandemic era was characterized in the United States by continued economic recovery, persistently high consumer interest rates—despite three cuts in the benchmark federal funds rate in...more

Hinshaw & Culbertson - Insights for Insurers

How the U.S. Supreme Court's Rulings on Kaiser and Purdue Pharma Affect Insurers' Rights and Interests in Chapter 11 Cases

On June 6, 2024, the United States Supreme Court issued its decision on an insurer’s standing in its policyholders’ Chapter 11 bankruptcy proceeding in Truck Exchange v. Kaiser Gypsum Co., 144 S. Ct. 1414 (2024). The decision...more

Jones Day

U.S. Supreme Court Bankruptcy Update

Jones Day on

The U.S. Supreme Court handed down three bankruptcy rulings to finish the Term ended in July 2024. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance...more

Cozen O'Connor

Supreme Court Orders Stand Down on Insurance Neutrality Test for Standing

Cozen O'Connor on

On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al.,1 nullifying the insurance neutrality test for insurer standing in bankruptcy...more

Epstein Becker & Green

Another Leak Confirmed and Other Important Decisions and Divisions Issued, but Not Loper or Trump - SCOTUS Today

Epstein Becker & Green on

The Supreme Court’s day started with the specter of yet another leak of a reproductive rights decision having occurred....more

Goldberg Segalla

U.S. Supreme Court Holds that Insurers are Parties in Interest in Bankruptcy Proceedings and Can Object to Reorganization Plans

Goldberg Segalla on

Companies faced with numerous mass tort claims, such as asbestos claims, often seek bankruptcy protection. Reorganization plans may include § 524(g) channeling injunctions in which insurance assets are put into a trust to pay...more

White and Williams LLP

Supreme Court Endorses Broad Insurer Standing in Bankruptcy Reorganizations

The Supreme Court reversed the Fourth Circuit Court of Appeals in favor of insurance companies in a unanimous decision written by Justice Sotomayor. In short, the United States Supreme Court held today that insurers facing...more

Jones Day

Ability of Creditors' Committees to Prosecute Estate Claims Given a Boost in Delaware Bankruptcy Courts

Jones Day on

The practice of conferring "derivative standing" on official creditors' committees or individual creditors to assert claims on behalf of a bankruptcy estate in cases where the debtor or a bankruptcy trustee is unwilling or...more

Proskauer Rose LLP

Conflict Between Delaware LLC Act and Bankruptcy Code Affects Creditor Toolbox

Proskauer Rose LLP on

As you know from our prior alerts, creditors of borrowers formed as Delaware LLCs (as opposed to corporations) lack standing under Delaware law to sue directors for breaching fiduciary duties even when, to the surprise of...more

Jones Day

Business Restructuring Review September-October 2023 | Vol. 22 No. 5

Jones Day on

Section 546(e) of the Bankruptcy Code’s “safe harbor” preventing avoidance in bankruptcy of certain securities, commodity, or forward-contract payments has long been a magnet for controversy. Several noteworthy court rulings...more

Morrison & Foerster LLP - Left Coast Appeals

This Week At The Ninth: Easements And Bankruptcy Standing

This week, the Court considers a property owner’s claim to an easement over a maintenance road on federal land, and casts doubt on the longstanding “person aggrieved” standing requirement in bankruptcy appeals. ...more

Latham & Watkins LLP

Third Circuit Adopts Standard for Appointment of Future Claimants Representatives

Latham & Watkins LLP on

The court’s decision in In re Imerys Talc America, Inc. clarifies the appointment standard for future claimants representatives in the Third Circuit under Section 524(g) of the US Bankruptcy Code. In a precedential...more

Jones Day

Business Restructuring Review | July-August 2021

Jones Day on

Chapter 15 Update: U.S. Bankruptcy Court Refuses To Enforce Order Approving Indonesian Debt Restructuring Plan Due To Third-party Releases - Cross-border bankruptcy cases filed in the U.S. under chapter 15 of the...more

Jones Day

Voting Right Assignment Unenforceable, But Subordinated Creditor Lacked Standing to Participate in Chapter 11 Plan Confirmation...

Jones Day on

In In re Fencepost Productions Inc., 2021 WL 1259691 (Bankr. D. Kan. Mar. 31, 2021), the U.S. Bankruptcy Court for the District of Kansas recently addressed the enforceability of a provision in a pre-bankruptcy subordination...more

Morgan Lewis

Out-of-the-Money Junior Creditors Cannot Participate in the Bankruptcy Process

Morgan Lewis on

Subordination agreements are generally enforced in accordance with applicable non-bankruptcy law in bankruptcy cases. The decision in In re Fencepost Productions, Inc., No. 19-41542, 2021 WL 1259691 (Bankr. D. Kan. Mar. 31,...more

Dorsey & Whitney LLP

2020 Recap: Corporate Restructuring Review

Dorsey & Whitney LLP on

Amidst a global pandemic, there were plenty of interesting bankruptcy and restructuring events and changes that occurred in 2020. We saw new Bankruptcy Code amendments go into effect (through the Small Business Reorganization...more

Jones Day

Creditors' Committee Denied Standing to Bring Derivative Claims on Behalf of LLC Debtor in Bankruptcy

Jones Day on

The practice of conferring "derivative standing" on official creditors' committees to assert claims on behalf of a bankruptcy estate in cases where the debtor or a bankruptcy trustee is unwilling or unable to do so is a...more

Seyfarth Shaw LLP

Distressed Company M&A in the Time of COVID-19: Benefits and Risks of Section 363 Sales

Seyfarth Shaw LLP on

The COVID-19 pandemic and the drastic measures taken in an effort to mitigate its adverse impact have sent shock waves throughout the US and global financial systems. ...more

Jones Day

Seventh Circuit: Section 363(m) Does Not Moot but Instead Provides a Defense to an Appeal of an Unstayed Bankruptcy Asset Sale...

Jones Day on

In Trinity 83 Dev., LLC v. ColFin Midwest Funding, LLC, 917 F.3d 599 (7th Cir. 2019), the U.S. Court of Appeals for the Seventh Circuit held that section 363(m) of the Bankruptcy Code does not moot an appeal involving a...more

Herbert Smith Freehills Kramer

Creditors of a Limited Partnership or a Limited Liability Company Lack Standing to Sue Derivatively Under Certain State Laws

In Gavin/Solmonese LLC, Liquidation Trustee for the Citadel Creditors’ Grantor Trust, successor to Citadel Watford City Disposal Partners, L.P., et al. v. Citadel Energy Partners, LLC, et al., Ch. 11 Case No. 15-11323; Adv....more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - May 2019 #3

PA Supreme Court Upholds Decision Allowing Drilling in All Districts Under a Local Zoning Ordinance as Long as They Meet Standards - "This case is one of several recent decisions in Commonwealth Court and the PA Supreme...more

Jones Day

Fifth Circuit Doubles Down on Statutory Mootness Approach to Bankruptcy Sales

Jones Day on

In Tanguy v. West (In re Davis), 2018 WL 4232063 (5th Cir. Sept. 5, 2018), the U.S. Court of Appeals for the Fifth Circuit revisited the circumstances under which section 363(m) of the Bankruptcy Code moots an appeal of a...more

Herbert Smith Freehills Kramer

Fifth Circuit Holds That Creditor Lacks Constitutional Standing to Appeal

The Fifth Circuit in Nustar Energy Services, Inc. v. M/V Cosco Auckland, Case No. 17-20246 (5th Cir. Jan. 14, 2019), recently held that a subcontractor creditor lacked constitutional standing to appeal a lower court’s ruling...more

Skadden, Arps, Slate, Meagher & Flom LLP

Bax Limits Standing to Pursue Derivative Claims in Bankruptcy

Since the Delaware Supreme Court held in CML V, LLC v. Bax that creditors of a Delaware LLC lack standing to pursue derivative breach-of-fiduciary-duty claims, even if the LLC is insolvent or near insolvent, bankruptcy courts...more

Herbert Smith Freehills Kramer

Debt Dialogue: July 2017 - A New Millennium: Bankruptcy Courts May Lack Constitutional Authority to Approve Nonconsensual Plan...

Third-party releases have become a common and oft-litigated issue in connection with confirmation of a Chapter 11 plan. This is especially so if the party being released is the target of claims arising out of questionable...more

29 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide